More Creative Accounting

While the corporate world has been receiving a lot of attention for strange accounting tricks, and I have been sure to remind everyone of even worse shenanigans by our rulers in government, the problems are even more widespread. Let's not forget about the big charities, such as United Way.

A few years ago, I triggered a ton of hate mail for daring to question the value of a middle-man charity that has no other purpose but to pay for a big bureaucracy and send some of the donations to smaller charities which are worthy in United Way's eyes. I still believe that donations are more effective if you cut out the expensive middlemen and send your money directly to the charities you believe in.

If that isn't enough of an endorsement of avoiding United Way, how about the fact that they refuse to allow their books to be audited? Could they be hiding something even worse than the CEO's $225,000 (plus perks) salary?

Speaking of worthy charities, I know of none more deserving than Turpentine Creek Wildlife Refuge & Foundation near Eureka Springs, Arkansas. Since I prepare their tax returns and review their QuickBooks, I know they are completely on the up and up. A recent IRS audit even confirmed that fact; so it isn't just my opinion.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 9/01/2002 04:16:00 PM Send this post: